You are required to finish each of these questions, each worth 10 marks, total 30 marks. Please give the solutions in detail, show calculations and submit the solutions to Moodle using a single file, it can be Excel format, Word format or PDF format, no requirement on word limits, if use any references, please refer to APA style. Question 1 (10 marks), Question 2 (10 Marks), Question 3 (10 Marks).
Case Study 1:
Consider each of the following independent situations:
(a) City Ltd, a property developer, has several major projects in progress in Brisbane’s central business district. Due to a downturn in the commercial property sector and an abundance of city office space, no buyers have been secured for the projects.
(b) Your client, Web Ltd, has recently purchased new computer software, which allows extensive management financial analysis and improved quality management reporting.
(c) During the year Beauty Pty Ltd, a manufacturer of cosmetics and skincare products, established an overseas branch operating as a sales outlet. Inventory has been transferred from Australia to the new branch to reduce lead times to existing customers and to provide inventory for samples as part of an increased marketing effort.
For each situation, identify the main audit planning issues that need to be addressed in the planning documents.
Case Study 2:
You are the auditor in charge of a car fleet leasing company, Vroom Ltd. The company owns and leases cars and related equipment to government bodies. The following table summarizes the planning outcomes of Vroom Ltd, including the preliminary assessment of inherent risk (IR), control risk (CR) and detection risk (DR
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